Helium One Reports A$460,000 Colorado Helium Receipts
The quarterly sales receipts cover the full Galactica-Pegasus joint venture in Colorado, where three additional wells face permitting delays.
Updated on Nov. 2, 2026 in Oil and Gas
Helium One Global Ltd reported A$460,000 in quarterly helium sales receipts from its 50% stake in the Galactica-Pegasus project in Colorado, which is operated by Blue Star Helium. The company also said three additional planned production wells will start drilling in March after permitting delays.
Why it matters
The receipts show revenue flowing from the Colorado helium venture while production expansion depends on regulatory approvals still pending. Delays in new wells could slow the pace at which the project adds output.
Helium One's 50% share of the Galactica-Pegasus receipts will be forwarded under the joint operating agreement, and six tube trailers have been delivered to the project. Regulatory approvals for three additional production wells are still pending.
The players
Helium One Global Ltd
An Australian-listed helium exploration company that holds a 50% interest in the Galactica-Pegasus project and has explored sites in Tanzania.
Blue Star Helium
The operator of the Galactica-Pegasus helium project in Colorado, responsible for well work and deepening decisions.
The details
Blue Star Helium operates the Galactica-Pegasus project in Colorado, and the receipts cover the whole venture. Discussions with multiple parties over carbon dioxide sales are ongoing, and Blue Star is considering deepening existing wells to increase flow.
Timeline
Regulatory approvals for the new wells are expected during the December 2026 quarter.
Drilling for three additional production wells is expected to start in March.
Production ramp-up at the Pinon Canyon plant is expected to continue into 2027.
Market Landscape
Production from the Galactica-Pegasus project feeds into the Pinon Canyon plant, whose ramp-up is expected to continue into 2027. Helium One's expansion in Colorado sits alongside its exploration work in Tanzania, where its Itumbula discovery wells were not designed for helium testing.
Delays in the permitting process could push back when the three new wells come online, affecting the timing of added helium supply. Readers following helium supply should watch for the regulatory approvals and March drilling start.
The takeaway
Helium One's Colorado receipts show the joint venture generating revenue now, but the pace of future output depends on permits that have not yet been granted. Watching the approvals and drilling schedule will show whether the expansion stays on track.
What happens next
Regulatory approvals for three additional production wells are expected during the December 2026 quarter, with drilling set to begin in March.
Further reading
Explore more Oil and Gas coverage for context on Colorado helium and gas production.
